Greece’s Socialists Win
Greece’s Socialist Party has defeated the New Democracy Party in the country’s national elections with enough seats to form a government:
ATHENS (Reuters) – Greece’s Socialists, who campaigned on a promise to inject a 3 billion euro ($4.36 billion) stimulus package into the economy, have won Sunday’s national election with enough seats to form a government.
Various analysts are quoted:
Voters gave a clear, strong mandate to (PASOK leader) George Papandreou, who will now have adequate power to fight the crisis. There is no if, there is no grey area.
PASOK won’t have a long period of grace. This percentage … is more the consequence of New Democracy’s collapse than a victory for PASOK. These voters won’t forgive it if it doesn’t respond immediately to the social and the economic problems the country faces and this could result to social tension.
A parliamentary majority means we will have political stability ahead. If the final tally gives socialists 155 seats, that’s a pretty decent majority.
The new government will have a mandate to go to Brussels and ask for more time to get Greece out of the excessive deficit procedure.
I think the only way to interpret this result is that this is a hard time for ruling parties. Neither right-leaning nor left-leaning parties have clear answers to the downturn and, indeed, whichever party would have won the election’s freedom of action would have been limited very severely by Brussels. If, as I expect, sluggish economic conditions persist for any significant period of time, it’s pretty likely the ruling parties in other countries will see a reversal of their fortunes.